The 64-year-old American-Belgian citizen has become the first businessman ever arrested for suspected involvement in the illegal trade of “blood” diamonds.
The incident adds to the firm's mounting challenges, including swinging to a loss, growing debt, unplanned equipment outages and Moody’s Investors Service recent cut of the company's credit rating.
The Vancouver-based miner aims to produce 280,000 to 300,000 tonnes of the red metal a year, but commercial levels won't be reached until state power utility Zesco finish connecting the mine to the power grid.
The Northern Territory Chief Minister has threatened to close Glencore's McArthur River operation if the miner does not improve its environmental practices.
With the only exception of gold, production numbers for most other commodities mined in the Central African nation are also expected to decline this year.